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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (57177)	12/13/2004 4:16:08 AM
From: elmatador	Respond to of 74559

LLCF/MQ: you're both at the extremes. Truth lies in the middle. MQ is right in the respect of the budgets of those OPEC (the C stands for countries) that have budgeted for a certain price level. Say USD38. If prices go down they are in trouble. To defend their budgets they need the price up there. LLCF is right in the respect that barrel goes down, OPEC (countries, not the cartel) goes bankrupt. We know that North Sea oil is gone. OPEC can jack up the price a bit since they got the upper hand back, that they've lost when North Sea oil was being pumped. The alternatives, will NOT be competitive at a price level of $30. Most likely at around $38 to 45$ for ethanol. For biodiesel, must be above $48.